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Delaware Free Printable  for 2024 Delaware Delaware Partnership Instructions

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Delaware Partnership Instructions
Form 300i

DELAWARE 2023 Partnership Return Instructions FORM PRT-RTN (FORMERLY FORM 300) Revised 12/20/23 WHO MUST FILE RETURNS A PARTNERSHIP RETURN MUST BE COMPLETED BY ANY BUSINESS TREATED AS A PARTNERSHIP FOR FEDERAL PURPOSES WHICH HAS ANY INCOME OR LOSS, REGARDLESS OF AMOUNT, DERIVED FROM OR CONNECTED WITH A DELAWARE SOURCE. IF THE PARTNERSHIP HAS NO DELAWARE SOURCED INCOME OR LOSS, NO RETURN IS REQUIRED TO BE FILED. Income derived from Delaware sources includes: (a) income attributable to the ownership of any interest in real property or tangible personal property located in Delaware and intangible personal property to the extent the intangible is used in a trade, business, profession, or occupation carried on in Delaware; and (b) income attributable to a trade, business, profession or occupation conducted in Delaware. COMPUTATION OF THE TAX schedules, must be attached to the Delaware amended return. How Do I Fill in the Payment Voucher? NATURE OF BUSINESS A partnership, as such, is not subject to tax. Instead, the partnership’s partners are liable for Delaware personal income tax on their respective shares of partnership income. Please enter the business code number from Federal Form 1065, Item C on page 1. A non-resident partner of a partnership with income from Delaware sources must file Form PIT-NON or a Composite Return, and report their share of Delaware sourced partnership income or loss. A resident partner must file Form PIT-RES and must report their share of partnership income or loss. Line A – If the address of the partnership has changed, check the Change WHEN AND WHERE TO FILE Partnerships must file by the 15th day of the third month following the expiration of the taxable period (March 15 for calendar year taxpayers). Returns should be mailed to the Delaware Division of Revenue, P.O. Box 8703, Wilmington, DE 19899-8703. EXTENSION OF TIME TO FILE Extension of time to file returns may be obtained by submitting a copy of the Federal extension application on or before the due date of the partnership return. A photocopy of the approved Federal extension MUST be attached to the return when filed. The approved Federal extension will extend the due date of the Delaware return to the same date as your Federal extension due date. PENALTIES AND INTEREST PENALTY - FAILURE TO FILE - A penalty will be imposed on partnerships for failure to file a partnership return or failure to furnish the information on such return. The amount of the penalty imposed for each month such failure continues, is the product of $25.00 times the number of partners during any part of the taxable year but is limited to a maximum of 5 months. PENALTY - NEGLIGENCE/FRAUD - The law provides severe penalties for a false or fraudulent return, or for making a false certification. The mere fact that the figures you report on your Delaware return are taken from your Federal return will not relieve you from the imposition of these penalties. AMENDED RETURNS of Address box. Also indicate which address has changed by checking the box for Location, Mailing and/or Billing address. Every partnership must attach a complete copy of the Federal form 1065, as filed with the Internal Revenue Service, including all schedules other than Schedule K-1. SCHEDULE 1 - PARTNERSHIP SHARE OF INCOME AND DEDUCTIONS WITHIN AND WITHOUT DELAWARE This schedule is to be completed by all partnerships required to file in Delaware. Any partnership claiming the pass-through of any Delaware business tax credit should complete and attach Delaware Form 700. Line 3 – If the partnership did business in Delaware and one or more other states during the year, Line 3 should be derived by multiplying the partnerships income on line 1 times the apportionment factor calculated on Schedule 2, Section D, Line 16, unless the partnership has maintained records of allowing for a complete separate accounting for its items of Delaware sourced income and deductions. If the partnership did business only in Delaware, then it is not necessary to complete Schedule 2 and Columns A and B will be the same. You must attach an explanatory statement: (a) with respect to any item allocated, in whole or in part, to a source outside Delaware; and (b) in the event a partnership conducting business in Delaware and in one or more other states do not calculate Column B by means of the apportionment percentage method. Lines 5 through 14 – Items connected with or derived from sources within Delaware include: (1) taxable dividends, net gains, or losses from sales of intangible personal property when Delaware is the place from which the trade or business of the filing partnership is directed or managed provided the property is used in a trade or business of the partnership; and (2) income derived by virtue of an activity conducted, or tangible property located, in Delaware. The Partnership can make changes to income, deductions, credits, etc., by filing an amended partnership return. This form should also be filed when you have been notified as to the results of a federal audit. A copy of the federal audit and/ or amended Federal Form 1065, with all supporting Page 1 Line 10 - Enter in Column A, all other gross income (if any) of the SCHEDULE 2 - APPORTIONMENT PERCENTAGE Section A - GROSS REAL AND TANGIBLE PERSONAL PROPERTY Partnerships with (a) income or loss derived from or connected with sources within Delaware and another state, and (b) one or more partners who are non-residents of Delaware, must file Schedule 2. Include in the factor on the appropriate line the partnership’s share of a) real and tangible property owned and/or rented; b) wages, salaries, bonuses, and other compensation; c) gross receipts from the sale of tangible personal property; and d) gross income from other sources resulting from the partnership’s proportionate ownership as a general or limited partner in an active partnership. partnership from sources derived from activities performed within the State of Delaware which is not tax exempt and/or reflected on Page 1, Schedule 1, Lines 5 through 14. Enter in Column B, all other gross income (if any) of the partnership, regardless of source, which is not tax exempt and/or reflected on Page 1, Schedule 1, Lines 5 through 14. Line 11 - Add Lines 9 and 10. SECTION D - DETERMINATION OF APPORTIONMENT PERCENTAGES Line 12a - Enter the amount from Column A, Line 7. Line 12b - Enter the amount from Column B, Line 7. NOTE: COLUMN A RELATES TO PROPERTY AND ITEMS OF INCOME AND/OR LOSS FOR THE PARTNERSHIP DERIVED FROM SOURCES WITHIN DELAWARE. COLUMN B RELATES TO THE TOTAL OF ALL SOURCES OF PROPERTY AND ITEMS OF INCOME AND/OR LOSS FOR THE PARTNERSHIP. Line 12c - Divide Line 12a by Line 12b and enter the result on Line 12c. Line 13a - Enter the amount from Column A, Line 8. Line 13a - Enter the amount from Column A, Line 8. Line 1 - Enter the original cost value of real and tangible personal property owned and used by the partnership for the beginning and at the end of the taxable year. Line 2 - Enter the value of rented real and tangible property used by the partnership. The value is computed at eight (8) times the annual rental cost of the property. . Line 13b - Enter the amount from Column B, Line 8. Line 13c - Divide Line 13a by Line 13b and enter the result on Line 13c. Line 14a - Enter the amount from Column A, Line 11. Line 14a - Enter the amount from Column A, Line 11. Line 14b - Enter the amount from Column B, Line 11. Line 14c - Divide Line 14a by Line 14b and enter the result on Line 14c. NOTE: REAL AND TANGIBLE PERSONAL PROPERTY OWNED BY THE UNITED STATES GOVERNMENT THAT IS USED OR OPERATED BY THE PARTNERSHIP SHALL BE DISREGARDED. Line 15 - Add Lines 12c, 13c and 14c. Line 16 - If the partnership has a percentage for all three apportionment Line 3 - Add Lines 1 and 2. Line 4 - Enter the original cost value of any real and tangible personal property for which income was reported on Page 1, Schedule 1, Line 5 through 14. Line 5 - Net Values. Subtract Line 4 from Line 3. factors (Lines 12c, 13c and 14c), divide Line 15 by three (3). If the partnership only has two apportionment factors, divide Line 15 by two (2). If the partnership has only one apportionment factor, enter the amount of Line 15 on Line 16. SCHEDULE K-1: The partnership is required to prepare and give a Schedule K-1 to each person who was a partner in the partnership at any time during the year. Line 6 - Combine the totals on Line 5 for each column. For an individual partner, enter the partner’s social security number (SSN) or individual taxpayer identification number (ITIN). For all other partners, enter the partner’s employer identification number (EIN). Line 7 - Divide the amount on Line 6 by two (2) for each column. SECTION B - WAGES, SALARIES AND OTHER COMPENSATION Line 8 - Enter in Column A, the total wages, salaries, bonuses, and other compensation you paid or accrued to employees and/or officers engaged in employment within the State of Delaware. Enter in Column B, the total wages, salaries, bonuses, and other compensation you paid or accrued to ALL employees and/or officers regardless of place of employment. Identify the partner’s type of entity by entering the appropriate code and descriptions. These codes are identified below: Partner’s Type of Entity Codes and Descriptions Code SECTION C – GROSS RECEIPTS SUBJECT TO APPORTIONMENT NOTE: ALL PERCENTAGES SHOULD BE COMPUTED TO AT LEAST SIX (6) DECIMAL PLACES (DO NOT ROUND UP). Line 9 - Enter in Column A, the partnership’s gross receipts from sales of tangible personal property physically delivered to the purchaser or his agent within the State of Delaware. DO NOT INCLUDE delivery to the United States mail or to a common or contract carrier for shipment to a place outside Delaware. Enter in Column B, the partnership’s total gross receipts from the sales of tangible personal property for the taxable year. Description Code Description 01 Individual 08 Trust 02 Partnership 09 Coopertive 03 Non-Profit Organization 10 Holding/Investment Corporation 04 Domestic Corporation 11 Professional Association 05 Foreign Corporation 12 Bank/Financial Institution 06 Subchapter Corporation 13 Limited Liability Company 07 Estate 14 Other - Please Describe The amounts reported in Column B should equal, in the case of Delaware residents, the total of Lines 1 through 11 of the Federal Form K-1. In the case of non-residents, it should equal the total of the Column B (“Within Delaware”) from Page 1, Schedule 1, Lines 4 through 14. Page 2 New Castle County Kent County Sussex County Carvel State Office Building 820 North French Street Wilmington, DE 19801 (302) 577-8200 Thomas Collins Building 540 S DuPont Highway Suite 2 Dover, DE 19901 (302) 744-1085 20653 N. DuPont Highway Suite2 Georgetown, DE 19947 (302) 856-5358 Toll-free telephone number (Delaware only) 1-800-292-7826 Mail return to Delaware Division of Revenue, P.O. Box 8703, Wilmington, Delaware 19899-8703 Page 3
Extracted from PDF file 2023-delaware-form-300i.pdf, last modified December 2023

More about the Delaware Form 300i Corporate Income Tax TY 2023

We last updated the Delaware Partnership Instructions in February 2024, so this is the latest version of Form 300i, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 300i directly from TaxFormFinder. You can print other Delaware tax forms here.

Other Delaware Corporate Income Tax Forms:

TaxFormFinder has an additional 64 Delaware income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 1100 Corporate Income Tax Return
Form 700 Delaware Income Tax Credit Schedule
Form 5403 Real Estate Tax Return - Declaration of Estimated Income Tax
Form 1100S S Corporation Reconciliation And Shareholders Return
Form 300 Delaware Partnership Return

Download all DE tax forms View all 65 Delaware Income Tax Forms

Form Sources:

Delaware usually releases forms for the current tax year between January and April. We last updated Delaware Form 300i from the Division of Revenue in February 2024.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Delaware Form 300i

We have a total of ten past-year versions of Form 300i in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

Delaware Partnership Instructions 2013 Form 300i

Microsoft Word - TY07_Form300i.doc

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